If your baby was born between May 29, 2020 and May 29, 2021, you could receive free money toward your child’s college education.
CollegeCounts, Alabama’s 529 Fund, will celebrate 5/29 Day (May 29) with a fifth annual statewide giveaway. From babies born between May 29, 2020 and May 29, 2021, CollegeCounts will randomly select 29 winners to receive $529 in contributions to an existing or newly opened CollegeCounts account.
“It’s never too early – or too late – to start saving for future education expenses,” says Alabama State Treasurer John McMillan. “The 5/29 Day promotion gives us a fun way to remind people of this important message each year. The goal is to ease parents’ minds about this important future expense and educate them on the benefits that CollegeCounts provides.”
CollegeCounts has no minimum contribution requirement, so you can invest a little at a time. Families can withdraw funds to use at public or private colleges, universities, trade schools, and graduate schools. This includes vocational, technical, and community colleges. Qualified expenses include tuition, fees, and room and board (if enrolled at least half time). Families can also use the funds to purchase books, supplies, and equipment needed for enrollment such as computers.
“Despite these uncertain times, the Alabama CollegeCounts program remains committed to helping families save in whatever way works best for their budgets and goals,” McMillan, added. “Eighteen years will pass by more quickly than most of us expect, so do not let temporary economic turbulence interrupt your college savings plan.”
Starting May 29, 2021, you can register your child in the 5/29 Day Promotion by visiting CollegeCounts529.com/giveaway and entering your contact information and child’s name and date of birth. Selected winners must provide a birth certificate or commemorative birth announcement to receive the funds.
For information on how to open an account, please visit CollegeCounts529.com. To learn more about CollegeCounts, the investment objectives, risks and costs, read the Program Disclosure Statement available online here.